Nissan Leaf: 2011 World Car of the Year

The all-electric Nissan Leaf was named the 2011 World Car of The Year at the New York Auto Show.

"It is a great joy that the world's first, mass-marketed electric vehicle, the Nissan Leaf, has won the prestigious award," said Nissan Chairman and CEO Carlos Ghosn.

The Leaf beat-out the BMW 5-Series and the Audi A8 for the prestigious award, which is chosen by a panel of automotive journalists from Asia, Europe and North America.

The Leaf can run on its lithium-ion battery for about 100 miles before needing to be recharged. That process takes about eight hours.

CNNMoney.com reports that Ghosn has been a big booster of electric vehicles, predicting that they will account for 10% of the global auto market by 2020.

The Nissan has a sticker price of about $33,000, but buyers get a federal tax credit of $7,500.

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